Explainers9 min read
Tokenized Stocks Explained: Do You Actually Own the Shares?
Robinhood Stock Tokens, xStocks and Galaxy’s onchain shares all track a stock. Only one of them is the stock. How to read what a tokenized share really gives you.
Panther Journal / The library
Explainers
How the machinery works: market structure, MEV, tokenized assets, the mechanics behind the headlines.
Explainers8 min read
What Is MEV? How Sandwich Attacks Work
The value of ordering transactions, who captures it, and what a sandwich costs you, worked through on the real Uniswap formula. Plus how Ethereum, Base, Arbitrum, BNB Chain, Solana and Robinhood Chain differ, and what protection really covers.
Explainers6 min read
Crypto Market Cap vs. Liquidity vs. FDV: What’s the Difference?
Market cap and FDV describe a price. Liquidity describes what happens when you sell. A worked example on the real Uniswap formula shows why a $10 million token can return $99,850 for 2% of its supply.